Saturday, July 3, 2010

BofA To Rescind Foreclosure Sale After Media Intervention Attracts Attention; Jerked-Around Homeowner Says She'll Believe It When She Sees It

In Wheat Ridge, Colorado, KDVR-TV Channel 31 reports:

  • The Wheat Ridge woman who had the Bank of America sell her house out from under her could be getting her home back. On Thursday FOX31 News first reported 61-year-old Stephanie Martin's story. She's lived in her home for 20 years and now takes care of her 84-year-old mother and 7-year-old granddaughter. Martin never had any trouble making her house payments, until last June when her legs were crushed in a horrible accident at the Target store where she worked.

  • She applied for and was accepted into a Freddie Mac program that lowered her mortgage payments and stopped any foreclosure proceedings. [...] But, even though her participation in the program was supposed to stop all foreclosure proceedings, Bank of America earlier this month sold her house at a foreclosure auction, to itself.

  • Martin says they never sent any warning or notification. And she found out about the foreclosure only after her lawyer coincidentally saw the public notice at the courthouse.


  • For nearly a month, Martin unsuccessfully tried to get some answers or help from the Freddie Mac program and the bank. After she contacted FOX31 News and KHOW Radio Talk Show host Peter Boyles, her case received attention. She and her lawyer say the Bank of America called them Friday and said they are going to rescind the sale and give Martin her house back. They indicated they will also work with her to keep the lower house payments. Martin is relieved, but says after all she's been through, she'll believe it when she sees it. "I hope this is true because I've been told so many things."

For the story, see: Bank to return woman's home sold without notice.

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